Hey there, PoI readers! 💫

It's your favorite crypto connoisseur, Mochi, back with another serving of tantalizing tech and web3 news. From DeepSeek's massive AI model drop and GameStop's half-billion Bitcoin bet to Pakistan's epic crypto U-turn and Musk's multi-million dollar Telegram romance, we've got a lot to unpack. So, buckle up and get ready for a wild ride through the wonderland of digital assets and AI adventures!

INTEL BRIEF

🟧 DeepSeek quietly dropped an updated version of their R1 reasoning AI model on Hugging Face, complete with a hefty 685 billion parameters and enough

🟧 GameStop finally pulled the trigger on their Bitcoin adventure, scooping up 4,710 BTC worth roughly $513 million and sending their stock on a victory lap.

🟧 Pakistan just pulled the ultimate crypto U-turn, announcing a Bitcoin strategic reserve after previously declaring cryptocurrencies would "never be legal" in the country.

🟧 Elon Musk's xAI and Telegram are reportedly dancing around a $300 million deal to integrate Grok AI across the messaging platform, though they're still working out the "formalities."

DeepSeek Just Released an AI Monster So Big It Makes Your Gaming PC Cry

DeepSeek, the Chinese AI startup that's been giving OpenAI some serious side-eye, just casually dropped an updated version of their R1 reasoning model on Hugging Face. And by "casually," I mean they announced it through a WeChat message like they were sharing their lunch plans.

This "minor" upgrade (air quotes theirs, not mine) is packing a whopping 685 billion parameters – that's basically the AI equivalent of showing up to a knife fight with a rocket launcher. For context, that's so many parameters your gaming rig would probably just laugh, cry, and then promptly catch fire if you tried to run this beast locally.

The updated R1 comes with a permissive MIT license, which means developers can actually use this commercially without DeepSeek's lawyers knocking on their door. Though given the current political climate, some U.S. regulators are reportedly treating DeepSeek like that one friend who always brings drama to the group chat – allegedly calling their technology a "national security risk."

What's particularly amusing is that DeepSeek just dumped the model files on Hugging Face with all the ceremony of uploading vacation photos. No fancy description, no marketing fluff – just configuration files and weights sitting there like "figure it out yourself, nerds."

The original R1 made waves earlier this year by giving OpenAI's models some legitimate competition, proving that the AI arms race isn't just a Silicon Valley affair anymore. Now with this updated version, it seems DeepSeek is doubling down on their "we're here to shake things up" approach.

DeepSeek released updated R1 AI model with 685 billion parameters on Hugging Face

MIT license means commercial use is allowed, but good luck running it on your laptop

U.S. regulators allegedly view DeepSeek as a national security concern amid AI competition

GameStop Just Spent Half a Billion Dollars on Bitcoin Because Why Not Go Full Meme Stock Legend

GameStop just leveled up in the most GameStop way possible! The beloved meme stock darling has officially confirmed their first-ever Bitcoin purchase of 4,710 BTC, worth approximately $513 million at current prices. Because apparently, selling used video games wasn't quite adventurous enough.

This crypto shopping spree comes after GameStop teased us back in March with their plans to dive into "alternative investments" – which in corporate speak apparently means "we're about to YOLO into Bitcoin." The company was so confident in this move that they launched a $1.3 billion convertible notes offering to fund it, basically saying "we're so bullish on Bitcoin, we'll borrow money to buy it."

The announcement, dropped casually on their X account, was characteristically light on details. No purchase price, no timeline – just "hey, we bought some Bitcoin, deal with it." Their SEC Form 8-K filing was equally mysterious, offering about as much detail as a GameStop employee explaining why your trade-in is worth $3.

Wall Street seemed to love the plot twist, with GameStop stock reportedly jumping around 18% on Bitcoin speculation earlier this year. The stock has been on quite the ride, climbing 30% in the past 30 days and sitting pretty with 10% year-to-date gains. Not bad for a company that was supposedly dying just a few years ago.

GameStop is joining the growing club of companies following Michael Saylor's MicroStrategy playbook, which has been collecting Bitcoin like it's going out of style since 2020. Recent additions to this exclusive "Bitcoin Treasury Club" include Japan's Metaplanet and Brazil's Meliuz, proving that corporate FOMO is apparently a global phenomenon.

GameStop bought 4,710 Bitcoin worth ~$513 million in their first crypto purchase

Stock jumped 18% on speculation, up 30% in past month as investors cheered the move

Joins growing trend of companies adopting Bitcoin treasury strategies like MicroStrategy

Pakistan Pulls Epic Crypto Flip From Never Legal to Strategic Reserve in Record Breaking U Turn

Pakistan just had their main character moment at the Bitcoin 2025 conference in Las Vegas, with some serious "hold my chai" energy.

Bilal Bin Saqib, head of Pakistan's crypto council, dropped this news on May 28th, announcing that Pakistan is establishing its own Bitcoin Strategic Reserve. The man literally called it a "very historic day" while presumably trying not to make eye contact with anyone who remembered their previous "crypto will never be legal here" stance.

Pakistan is reportedly following the United States' lead like that kid in school who copies the cool kid's homework. Saqib even gave America a shoutout, saying they were "inspired by them" – which is basically diplomatic speak for "we saw what you did and we want in on this action too."

This complete 180 allegedly reflects the broader trend of countries scrambling to adopt pro-crypto policies following the regulatory shifts under the Trump administration.

Pakistan isn't just dipping their toes either. They've reportedly been busy with Trump's World Liberty Financial since April, signing letters of intent to tokenize real-world assets and build DeFi infrastructure. Plus, they just established a whole new Digital Asset Authority in May 2025 to regulate crypto platforms – because apparently when you change your mind about crypto, you go all in.

The speed of this transformation is honestly impressive. From "absolutely not" to "strategic reserve".

Pakistan announces Bitcoin Strategic Reserve after previously saying crypto would "never be legal"

Following U.S. lead amid global trend of nations adopting pro-crypto policies under Trump era

Established new Digital Asset Authority and partnered with Trump's WLFI for tokenization projects

Elon Musk and Telegram Dance Around 300 Million Dollar AI Deal While Everyone Watches the Drama

Elon Musk "it's complicated" business relationship! This time, our favorite rocket-launching, meme-posting billionaire is allegedly getting cozy with Telegram for a juicy $300 million deal to integrate his Grok AI chatbot across the messaging platform. And yes, it's exactly as dramatic as you'd expect.

Pavel Durov, Telegram's CEO, kicked things off with a May 28th X post announcing they'd "agreed in principle" to a one-year partnership. Cue Musk sliding into the replies, clarifying that "no deal has been signed." Durov then had to do the digital equivalent of "well, actually..." explaining that while they shook hands (metaphorically), the "formalities are pending." Classic startup romance vibes right there.

The alleged deal structure is reportedly pretty sweet for Telegram: $300 million in cash and equity from xAI, plus a tasty 50% cut of revenue from xAI subscriptions sold through their platform.

According to Durov's promo materials, Grok integration would bring some seriously cool features to Telegram users this summer. We're talking threaded chats, smart text editing, chat summaries, document digests, and even group chat moderation – because apparently AI is coming for the unpaid admin jobs too.

The timing couldn't be more interesting, with Toncoin reportedly spiking over 20% on this news alongside other Telegram developments, including BlackRock's participation in a $1.5 billion bond sale. TON is currently sitting pretty at $3.60 with an $8.9 billion market cap, proving that sometimes association with Musk's projects is almost as good as the real thing.

xAI and Telegram "agreed in principle" on $300M deal for Grok AI integration, but no contract signed yet

Telegram would get cash/equity plus 50% revenue share from xAI subscriptions sold via platform

Toncoin spiked 20% on the news amid broader Telegram partnership announcements

And that's a wrap, my lovely PoI readers! I hope this edition left you feeling informed, entertained, and may be even a little bit richer (in knowledge, of course). From AI models that could melt your GPU to countries completely flipping their crypto stance overnight, it's been quite the journey through today's tech landscape. Remember to stay curious, stay informed, and keep spreading the love. Until next time, this is Mochi, signing off with a virtual high-five!

P.S. Don't forget to share your thoughts, questions, and favorite crypto puns with us. very voice matters in the PoI community! 📣❤️ Share the newsletter

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